Reuters
The review identified "material weaknesses" in its internal control over financial reporting and resulted in revisions of its balance sheet as of Dec. 31, 2022, and its cash flow statements for 2021 and 2022. In its twice-delayed results announcement, Chemours forecast first-quarter net sales to be flat to down sequentially and capital expenditures of about $100 million. It also forecast a 10% sequential decline in net sales for the titanium technologies segment due to seasonally weak demand for titanium, along with a drop in sales in its advanced performance materials segment.